Nels Investments CC v Bellinghan (7048/2018)
Nels Investments CC v Bellinghan (7048/2018) [2018] ZAWCHC 142 (31 October 2018)
The court found that the respondent, as surety and sole member of Biothane, committed acts of insolvency by admitting inability to pay debts in written correspondence and by participating in settlement negotiations in both his personal and representative capacities. The respondent's counterclaim for improvements was not bona fide, as the lease agreement expressly precluded compensation for improvements and set-off. The court held that admissions made during without prejudice negotiations may be relied upon as evidence of insolvency. The respondent failed to demonstrate solvency, and the requi…
Source excerpt
- Provisional Sequestration
- Acts Of Insolvency
- Suretyship Liability
- Counterclaim Defence
- Without Prejudice Communications